NBA Free Agent Signings 2014: Tracking the Latest Deals and News

Let the NBA's offseason officially commence. Beginning at 12:01 a.m ET on July 1, teams and perspective free agent targets could officially begin negotiations on a series of contracts that could reshape the Association's hierarchy.

LeBron James, Dwyane Wade, Chris Bosh and Carmelo Anthony lead a group of players that ranks among the best free-agent classes in history.

James, Wade and Bosh exercised their early termination options with the Heat, seemingly calculated moves to allow Pat Riley to retool the roster around them. However, on Friday, July 11, James made his anticipated decision to return to Cleveland through an essay with Sports Illustrated's Lee Jenkins. Unlike James, Bosh opted to stay in Miami, according to ESPN.com. He reportedly signed a five-year, $118 million deal with the Heat.

Anthony, having already made seven All-Star teams and been selected to six All-NBA teams, is ready for championship contention. With New York's roster undergoing a complete retooling under Phil Jackson, Anthony will have to wait at least one more season before having a winner in the Big Apple. That has him courting offers from the likes of the Chicago Bulls, Houston Rockets, Dallas Mavericks and a couple other suitors more equipped to win now.

Besides Anthony, Kyle Lowry, Lance Stephenson and Luol Deng highlight a second tier of free agents who could make an impact in new cities. Stephenson might be the most interesting, given his high talent level, young age (23) and proclivity for antics on and off the floor that frustrate teammates.

The restricted free agent pool is also unusually deep and not necessarily guaranteed to return to their current stomping grounds. Eric Bledsoe, Chandler Parsons, Greg Monroe, Isaiah Thomas and Gordon Hayward lead the pack, each possessing a dichotomy of potential and flaws that makes each player's contract level something to watch.

Nick Young was one of a few high-profile unrestricted free agents on the market this summer. After a pleasantly surprising 2013-14 season, he re-signed with the Los Angeles Lakers for four years and $21.5 million. The fourth year of that deal is a player option, per ESPNLosAngeles.com's Dave McMenamin.

Although the Lakers locked up Young, they weren't so lucky with Pau Gasol, who revealed on Twitter that he will sign with the Chicago Bulls.

Another unrestricted veteran on the move looks to be Trevor Ariza, who signed a four-year, $32 million deal with the Houston Rockets, according to USA Today's Sam Amick.

With roughly half the league boating $10 million or more, the high-salaried offers are going to be flying off the shelves like an auction house. When folks call this the silly season, it's about these next few days—a never-ending flurry of rumors, innuendo and negotiations that leave even the most strident NBA fan unable to keep up.

Be sure to check back here as we highlight every deal that goes down over the next few weeks and days. (Note: No contract signed is deemed official until July 10, the date the NBA's moratorium on transactions ends.)

Kendall Marshall Claimed off Waivers by Milwaukee Bucks

The Milwaukee Bucks have been awarded the contract of guard Kendall Marshall (6-4, 195) on a waiver claim, General Manager John Hammond announced today. Marshall was waived by the Los Angeles Lakers on July 18.

Carmelo Anthony Re-Signs with Knicks

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Carmelo Anthony announced his decision to return to the New York Knicks through a post on his official website, ThisIsMelo.com:

A few years ago I dreamed of coming back to New York City, the place of my birth, and on February 23, 2011 that became a reality. This organization has supported me and in return, I want to stay and build here with this city and my team. At this pivotal juncture in my career, I owed it to myself and my family to explore all of the options available to me. Through it all, my heart never wavered.

During this journey I met with some quality organizations who have amazing talent and leadership. I thank them for their consideration, belief in my talent, and opportunity to imagine the possibilities.

I will always remember this chapter in my life. In the end, I am a New York Knick at heart. I am looking forward to continue my career in Orange & Blue and to work with Phil Jackson, a champion who builds championship teams. Madison Square Garden is the mecca of basketball and I am surrounded by the greatest fans in the world.

Yahoo Sports' Adrian Wojnarowski reports that the deal is worth five years and roughly $120 million.

LeBron James Re-Signs with Cavaliers

Sports Illustrated's Lee Jenkins has an exclusive report in LeBron James' own words announcing his return to the Cavaliers:

In Northeast Ohio, nothing is given. Everything is earned. You work for what you have.

I’m ready to accept the challenge. I’m coming home.

According to ESPN.com's Brian Windhorst, James' contract will be for two years and $42.1 million. LeBron has an option to become a free agent after one year.

Windhorst's sources believe that the move isn't any sort of sign that he'll want to leave Cleveland but rather that he may be able to earn more money from a max deal in 2016, when a new television deal kicks in and could possibly increase the salary cap.

James Johnson Signs with Toronto Raptors

Former Memphis Grizzlies forward James Johnson has signed a two-year deal with the Toronto Raptors, according to Yahoo! Sports' Adrian Wojnarowski:

Free-agent forward James Johnson has agreed to a two-year, $5 million contract with the Toronto Raptors, league sources told Yahoo Sports.

Memphis had interest in re-signing Johnson, but he left for a return to Toronto. Utah and Houston had expressed interest too, sources said. Johnson averaged 7.4 points and 3.2 rebounds for the Grizzlies last season.

Kyle Lowry Re-Signs with Toronto Raptors

The Toronto Raptors announced Thursday they have re-signed free-agent point guard Kyle Lowry to a multi-year contract. Per team policy, financial details were not disclosed.

'We made it known that our top priority heading into the offseason was to re-sign Kyle,' said Raptors President and General Manager Masai Ujiri. 'He was a key to our success last season and we are delighted that he wants to be here in Toronto to help us continue to build a championship program.'

The deal was originally reported by Adrian Wojnarowski of Yahoo Sports:

List of Restricted Free Agents with Qualifying Offers

USA TODAY Sports

If an NBA team wants to keep its right to match any contract given to a restricted free agent, it must first extend a qualifying offer. The following is a list of players who have received said offers in recent days, broken down on a team-by-team basis: